Yes, you can open most business bank accounts entirely online
You can open a business bank account without visiting a branch. Most banks and credit unions now let you start the process on their website or app, upload documents, and fund the account remotely. The account is usually active within one to three business days, though some banks take longer to verify your business information.
The catch is that not every bank offers full online opening for every business structure. Sole proprietorships and single-member LLCs are easiest to open online. Partnerships, multi-member LLCs, and corporations often require a wet signature or notarized documents, which means you either mail papers in or meet someone in person. A few banks will notarize documents remotely using a video call, which speeds things up.
What you need to open an account online depends on your business structure and the bank's requirements. All banks want your Social Security number or EIN, proof of identity, and proof of your business address. For LLCs and corporations, you will need your formation documents — the articles of organization or articles of incorporation filed with your state. Some banks also ask for a business license or a letter from your state showing your business is registered.
Key Takeaways
- Sole proprietorships and single-member LLCs can open accounts fully online at most banks; other structures may require notarized documents or a signature in person.
- You will need your Social Security number or EIN, a government-issued ID, and proof of your business address before you start.
- For LLCs and corporations, have your formation documents from your state ready — the bank will ask to see them during the process.
- The account is usually active within one to three business days, but some banks take up to a week to verify your information.
- Online banks and credit unions often have lower minimum balances and fewer fees than traditional banks, but they do not offer in-person service.
What documents you need before you start
Gather these items before you begin the process. You will need a government-issued photo ID — a driver's license, passport, or state ID card. The name on your ID must match the name on your business account. If you recently changed your name, bring a marriage certificate or court order showing the change.
Next, have your Social Security number or Employer Identification Number (EIN) ready. If your business is a sole proprietorship, you use your Social Security number. If it is an LLC, corporation, or partnership, you need an EIN from the IRS. You can get an EIN for free on the IRS website in minutes; it is issued when ready.
Bring proof of your business address. This can be a utility bill, lease, mortgage statement, or property tax bill in your name and showing your business address. Some banks accept a recent mail piece from a government agency. If you work from home, your home address counts as your business address.
For LLCs and corporations, have your formation documents ready. Log into your state's Secretary of State website and read a certified copy of your articles of organization (for LLCs) or articles of incorporation (for corporations). Some banks accept an uncertified copy you print yourself; others require the certified version. Ask the bank before you explore.
How the online opening process works
Start on the bank's website or app. Look for a button that says "Open a Business Account" or "New Business Account." You will answer questions about your business: the legal name, structure (sole proprietorship, LLC, corporation, or partnership), industry, and estimated monthly revenue. Be honest about revenue — the bank uses this to set your initial deposit limits and fraud monitoring.
Next, you upload documents. The bank will ask for a photo of your ID (both sides), a photo of your business formation documents if you have them, and sometimes a utility bill or lease. Use your phone camera or a scanner. The image must be clear and show all four corners of the document. If the image is blurry or cut off, the bank will reject it and ask you to resubmit.
Then you verify your identity. Some banks use a video call where you show your ID to a person or an automated system. Others use knowledge-based questions — they ask you things only you would know, like the address of a previous home or the name of a creditor. This step usually takes five to ten minutes.
Finally, you fund the account. Most banks let you link an existing personal bank account and transfer money in, or they give you a routing number so you can have money sent to you. Some require a minimum deposit before the account opens; others let you open it empty and deposit later. The account is usually active within one to three business days.
When you cannot open an account fully online
If your business is a partnership or multi-member LLC, many banks require a signature from all owners. Some banks will accept electronic signatures through DocuSign or a similar service. Others require a wet signature — an actual pen-and-ink signature on paper — which means you either mail the documents in or visit a branch.
A few banks offer remote notarization. You schedule a video call with a notary, show your ID and the documents, and the notary signs and stamps them electronically. This usually costs $25 to $50 and takes a few days to schedule. It is faster than mailing documents but slower than a fully online process.
If your bank does not offer remote notarization and you cannot visit a branch, you have two options. First, you can use a third-party notary service like Notarize.com or a local notary public. Get the documents notarized, then mail them to the bank. Second, you can choose a different bank that offers online opening for your business structure. Online banks and credit unions are more likely to have this option than traditional banks.
Online banks versus traditional banks
Online banks have no physical branches. You manage your account entirely through their website or app. They usually have lower monthly fees, no minimum balance requirements, and higher interest rates on savings. The trade-off is that you cannot deposit cash or get a cashier's check in person. If your business rarely handles cash, an online bank is usually cheaper.
Traditional banks have branches where you can walk in, deposit cash, and talk to someone. They usually charge monthly fees ($10 to $25) and require a minimum balance ($500 to $2,500). They open business accounts online less often than online banks do, especially for partnerships and corporations. If your business handles a lot of cash or you want in-person service, a traditional bank may be worth the extra cost.
Credit unions are member-owned and often have lower fees than traditional banks. Many credit unions open business accounts online for sole proprietorships and LLCs. You must be a member to open an account, which usually means living or working in a certain area or belonging to a certain profession. Credit unions are a good middle ground if you want lower fees and some in-person service.
What happens after your account opens
Once the bank confirms your account is active, you can start using it. You will receive a debit card in the mail within five to ten business days. You can order checks through the bank's website; they usually arrive within a week. Some banks let you start making transfers and payments before the debit card arrives.
The bank will send you login credentials for online banking. Change your password when ready to something strong and unique. Set up two-factor authentication if the bank offers it — this means you need a code from your phone or email to log in, which protects your account if someone gets your password.
If you need an EIN for tax purposes and do not have one yet, explore for it on the IRS website before you open the account. The EIN is free and issued when ready. You will need it to file business taxes and to hire employees. Some banks ask for the EIN during the account opening process, so having it ready saves time.
Frequently Asked Questions
Do I need an EIN to open a business bank account?
Not always. If you are a sole proprietor, you can use your Social Security number. If you have an LLC, corporation, or partnership, you need an EIN. You can get one for free from the IRS website in minutes. Some banks let you open the account with your Social Security number and add the EIN later.
How long does it take to open an account online?
The process itself takes 10 to 20 minutes. The bank then verifies your information, which usually takes one to three business days. Your account is active and ready to use once verification is complete. Some banks are faster; others take up to a week.
Can I open an account if I do not have a business license yet?
Yes. Most banks do not require a business license to open an account. They want proof that your business exists — your formation documents for an LLC or corporation, or just your ID and address for a sole proprietorship. A business license is helpful but not required.
What if the bank rejects my documents during the upload?
The bank will tell you why — usually the image is blurry, cut off, or the document is not what they asked for. Retake the photo in good lighting, make sure all four corners are visible, and upload it again. If you keep having trouble, call the bank's customer service line and ask if you can email the documents or mail them in.
Can I open an account for a business I have not registered with the state yet?
It depends on the bank. Some banks want to see your formation documents before they open the account. Others will open an account for a sole proprietorship with just your ID and address, even if you have not filed anything with the state. Call the bank and ask what they need before you explore.